There's nothing to be excited about really! Mr. Mahindra has given a diplomatic answer because Bitcoin is still not recognized as a legal tender in India.
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Crypto has a long way to go in India, to be honest. The current government has no plan to make it a legal tender. Rather they will be more than happy to ban it. The looby of RBI is very strong in India and they will not allow crypto to become a legal tender till their last breath.
True words. The govt isn't happy with anything that challenges their authority on the ecosystem, be it any party. RBI is also an extremely conservative organisation.